Feliks Medvedev, a 43-year-old resident of Buford, Georgia, has been sentenced to three years and ten months in prison. Following his release, he will undergo three years of supervised release and is required to pay a $10,000 fine. This sentencing comes after Medvedev was found guilty of operating an unlicensed money transmitting business that facilitated the transfer of over $150 million in Russian funds.
Court documents reveal that Medvedev, a Russian citizen residing in North Georgia, registered eight companies within the state. These companies were used to conduct more than 1,300 transactions amounting to over $150 million. Although these entities were supposedly based in Buford and Dacula, Georgia, they lacked typical business expenses or employees. Part of the transferred funds was used to purchase more than $65 million worth of gold bullion overseas.
Medvedev's illegal activities involved collaboration with a Russian company and instructions from multiple Russian nationals for illicit fund transfers. After his indictment on September 14, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control sanctioned two alleged co-conspirators: Alexey Chubarov and his company KSK Group under Executive Order 14024. Earlier this year on February 13, Chubarov along with KSK Group and another Russian national Lev Solyannikov faced separate indictments in Georgia's Northern District for their conspiracy with Medvedev.
Medvedev entered a guilty plea leading to his conviction on February 7.
The investigation into this case is being conducted by the FBI and the Department of Commerce’s Bureau of Industry and Security. The prosecution is led by Assistant U.S. Attorneys Christopher J. Huber and Norman L. Barnett from the Northern District of Georgia.
This case falls under the coordination efforts of Task Force KleptoCapture—an interagency law enforcement task force formed by the Justice Department to enforce sanctions and economic measures against Russia following its military actions in Ukraine. Established on March 2, 2022, by the Attorney General under guidance from the Office of the Deputy Attorney General, this task force aims to utilize all available resources to counter attempts at evading or undermining U.S.-led international responses to Russian aggression.
